SMIFS said that GMR Airports continues to move higher along a rising trendline, indicating continuation of the short-term uptrend after a healthy consolidation.
Choice Broking said that Hindustan Petroleum continues to trade in a strong long-term uptrend, having resumed its bullish structure after a corrective phase earlier.
HPCL shares: MOFSL viewed HPCL’s valuation as reasonable and expected the stock to perform steadily, supported by several factors. It suggested a target price of Rs 590 on the stock.
Canara Bank confirmed a breakout of multiple resistance levels near Rs 130 on the weekly chart and registered an all-time high at Rs 138, signalling the continuation of the medium-term uptrend.
MOFSL tagged HPCL and MGL as momentum plays and Petronet LNG as a value play. HPCL is preferred among OMCs for its marketing leverage and catalysts such as the planned demerger
HSBC maintains 'Buy' ratings for BPCL, HPCL, and IOC, citing strong marketing margins and lower oil prices. Target prices for HPCL and IOC have been raised due to expected earnings growth.
An analysts from YES Securities said that In the past few days, BSE has faced downward pressure, leading to a gradual decline in its stock price towards the key support zone.
IGL shares led the fall, tanking 4.11 per cent to Rs 194.80. It was followed by OMC stocks BPCL, HPCL and IOC, which declined 3.86 per cent, 2.80 per cent and 2.20 per cent, respectively.
OMC stocks: Emkay Global said it favors HPCL, followed by BPCL, and IOCL in that order, and reiterated 'Buy' with target prices of Rs 500, Rs 400 and Rs 170, respectively, on the three stocks.
OMC stocks: JM Financial said the risk-reward for OMCs namely BPCL, HPCL and IOC is not favourable given the PSUs' aggressive capex plans and as valuations are 20-30 per cent above historical averages.
HPCL jumped 4 per cent to Rs 367.50. BPCL climbed 2.7 per cent to hit a high of Rs 281.80. IOC advanced 2.06 per cent to Rs 131.
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